The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.

Bloomberg Ralph Lauren Corp., the 50-year-old fashion brand known for its preppy style, is making good on its effort to rely less on markdowns—even if it means selling fewer clothes. The company posted earnings of $1.99 a share last quarter, topping analysts’ average projection by a dime. Ralph Lauren credited its pursuit of higher-quality sales channels and fewer discounts. Still, ...

Bloomberg JetSmarter’s Chief Executive Officer Sergey Petrossov said the members-only chartered-jet marketplace is considering fundraising options, including going public in 2019, as it rapidly ramps up flights around the world. “The company is big enough now” to go public, Petrossov said in an interview at the Fort Lauderdale International Boat Show. “But it will be very well-positioned in ’19”. Petrossov ...

Bloomberg Alphabet Inc.’s Google is pulling a software tool that let small companies access search information on airfares, a potential blow to online travel newcomers. Google’s tool was opened in 2011 after its $700 million acquisition of ITA Software Inc., an online airfare broker. In approving the deal, a federal judge required that Google keep an ITA flight search and ...

Bloomberg Kroger Co. wants to help out with your wardrobe. The largest US supermarket chain is launching an apparel line that it pledges will be “playful, simple and uplifting.” It will be sold in 300 stores, including Fred Meyer and Kroger Marketplace locations. Robert Clark, the company’s senior vice president of merchandising, said the brand “gives Kroger a chance to ...

Bloomberg The chiffon dress with the pasta print should have been the tipoff. In September, the iconoclastic Italian designer house Dolce & Gabbana sent a parade of food-oriented outfits down the runway at the Paris show for its Spring 2018 collection, including high-waisted, carrot-and-radish-printed pants, a ruffled dress emblazoned with cannoli, and a skirt printed with cans of tomatoes. Turns ...

Dubai / Reuters Abu Dhabi National Oil Co (ADNOC) plans to launch a share sale of a stake in its network of fuel service stations and retail convenience stores in December, sources told Reuters on Sunday. The listing for ADNOC Distribution comes as Abu Dhabi and other Gulf states seek to privatise energy assets. Sources told Reuters in September that ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, reiterated that the UAE stands firmly and resolutely with Saudi Arabia in confronting all challenges targeting its security and stability. He condemned in the strongest terms the firing of a ballistic missile towards the ...

Dubai / Emirates Business Commercial Bank International (CBI) announced its financial results for the nine months ended September 30. The net profit increased 4% year on year to AED33 million in Q3 this year, while year to date net profit totalled AED 86 million. The net interest income increased by 13% to AED 145 million from AED 128 million in ...

Reuters Air Arabia, the United Arab Emirates’ only publicly-listed airline, reported 26.6 percent increase in third quarter profit on Sunday. The low cost airline said in an emailed statement that it made a net profit of as much as AED376 million ($102.4 million) in the three months to September 30, compared with AED297 million that was recorded in the same ...

ABU DHABI / WAM Abu Dhabi Ports and Cosco Shipping Ports Limited (CSP) held their ground-breaking ceremony for the CSP Abu Dhabi Container Terminal during a high-level event at Khalifa Port, in the presence of His Highness Sheikh Diab bin Zayed Al Nahyan, Chairman of the Department of Transport and member of the Abu Dhabi Executive Council. A new agreement ...